NetEase (NASDAQ:NTES) Upgraded to “Overweight” at Morgan Stanley

NetEase (NASDAQ:NTES) was upgraded by Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research report issued on Wednesday, Marketbeat.com reports. The brokerage currently has a $108.00 price objective on the technology company’s stock, up from their prior price objective of $90.00. Morgan Stanley’s target price indicates a potential upside of 17.04% from the company’s current price.

A number of other equities analysts have also commented on the company. Citigroup increased their price target on NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Benchmark lowered their target price on NetEase from $120.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Finally, StockNews.com cut shares of NetEase from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 6th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $108.43.

NetEase Stock Up 2.9 %

Shares of NTES stock opened at $92.28 on Wednesday. The company’s fifty day simple moving average is $88.26 and its two-hundred day simple moving average is $87.83. NetEase has a 52 week low of $75.85 and a 52 week high of $114.50. The stock has a market cap of $59.26 billion, a P/E ratio of 15.59, a PEG ratio of 3.53 and a beta of 0.57.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NTES. Guinness Asset Management LTD boosted its stake in shares of NetEase by 16.7% during the 3rd quarter. Guinness Asset Management LTD now owns 86,741 shares of the technology company’s stock worth $8,111,000 after purchasing an additional 12,410 shares during the period. Assetmark Inc. boosted its position in shares of NetEase by 27.3% during the third quarter. Assetmark Inc. now owns 38,469 shares of the technology company’s stock valued at $3,597,000 after buying an additional 8,248 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of NetEase by 15.5% during the second quarter. Dimensional Fund Advisors LP now owns 569,633 shares of the technology company’s stock valued at $54,502,000 after buying an additional 76,446 shares during the last quarter. Cetera Investment Advisers raised its holdings in shares of NetEase by 56.8% in the second quarter. Cetera Investment Advisers now owns 17,123 shares of the technology company’s stock worth $1,637,000 after buying an additional 6,203 shares during the period. Finally, Frank Rimerman Advisors LLC bought a new stake in shares of NetEase during the 2nd quarter worth approximately $604,000. Institutional investors own 11.07% of the company’s stock.

About NetEase

NetEase, Inc engages in online games, music streaming, online intelligent learning services, and internet content services businesses in China and internationally . The company operates through Games and Related Value-Added Services, Youdao, Cloud Music, and Innovative Businesses and Others segments.